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Description
Protein Expression Services Market size is anticipated to be valued at USD 532.8 Million in 2021 and is expanded to grow at a significant CAGR of 5.6% over 2022-2028. Protein expression is the process of directing the synthesis of large numbers of desired proteins in an organism, usually by controlling gene expression to generate a significant amount of a recombinant gene. The increasing frequency of chronic diseases, expansion in the elderly population, and the rising need for protein biologics drive the worldwide protein expression market forward. The necessity for large-scale manufacturing of therapeutic proteins to treat infectious and chronic diseases has grown as the prevalence of these diseases has increased. Rapid advancements in recombinant DNA technology have paved the way for the development of recombinant proteins that can be employed as medicines, vaccines, and diagnostic reagents. Strong demand for biopharmaceuticals has prompted the development of new protein expression hosts and bioprocessing technologies, which have enhanced protein yield while lowering prices, and this is projected to continue to fuel market expansion in the future. In the protein expression services market, developments in technology such as mass spectrometry, molecular genetics, and manufacturing techniques are all major drivers. Furthermore, significant advancements in medical technology, improved disease identification, and the expansion of healthcare in new economies should all benefit the industry. Based on product, due to the increased use of reagents in research studies and biologics production, the reagents segment revenue is predicted to grow significantly during the projection period. This segment’s revenue growth is predicted to be fueled by increased demand for reagents and rising spending on reagents and kits for industrial, therapeutic, and research applications. Protein expression products for research and manufacturing are becoming more popular due to the availability of improved and new technologies to meet the needs of pharmaceuticals and biologics product makers. In addition, various pharmaceutical and biotechnology companies are forming alliances and collaborations in order to gain market leadership.
Recent Market Developments:
In Jan 2022, Thermo Fisher Scientific Inc., the world leader in serving science, and PeproTech, Inc., a leading developer and manufacturer of recombinant proteins, has completed its acquisition of PeproTech on December 30, 2021 for a total cash purchase price of approximately $1.85 billion.
In October 2021, Promega Launched Sanger Sequencing Chemistry Compatible With All Capillary Electrophoresis Platforms. ProDye™ Terminator Sequencing System brings Sanger sequencing to any size laboratory.
